STOCK MARKET BSE NSE

Kerala floods one month after: Centre supports state’s demand for GST cess

The state government had originally proposed a 10 per cent cess on SGST that would mobilise anything between Rs 700 crore and Rs 900 crore a fiscal.

Published: 21st September 2018 03:25 AM  |   Last Updated: 21st September 2018 04:19 AM   |  A+A-

Aerial photo of Kerala floods. (Photo | PTI).

By Express News Service

THIRUVANANTHAPURAM:  The Central Government has offered support to Kerala’s demand for a GST cess to mobilise funds for flood rehabilitation work, said Finance Minister Thomas Isaac.
After meeting Union Minister Arun Jaitley on Thursday, Isaac said the Centre has responded positively to Kerala’s demands. The cess proposal will be placed at the upcoming GST Council meeting.

The state government had originally proposed a 10 per cent cess on SGST that would mobilise anything between Rs 700 crore and Rs 900 crore a fiscal. But Jaitley said he would push for a pan-Indian cess to help the state to have more.

Isaac said the cess would help the state mobilise about Rs 2,000 crore in two years.  

The state’s second demand — upping the borrowing limit — also received a green signal. However, the Union Minister shot down the idea of raising the limit to a particular figure and instead suggested the limit could be fixed on a need basis.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp